CYPRUS
 
Cyprus LNG Plans Wobble
 
A reserve downgrade for Cyprus’ offshore Aphrodite gas discovery is boosting interest in alternatives to the island’s favored LNG export plans.Operator Noble Energy (70%) recently completed a second appraisal well on Aphrodite’s Block 12, leading the firm to downgrade reserve estimates from 7 to 5 tcf (mean recoverable). Noble estimates resultant production at 250mn cfd.
 
The setback has not stopped negotiations...